Prior empirical studies provide evidence that the learning-curve perspective from manufacturing settings is not directly applicable to strategic management settings. In the latter case learning relates to the quality rather than to the quantity of experience. Regarding the antecedents of...

A new model, rejecting solutions optimal only for a single preciselydefined future, generates answers representing the best compromisebetween risks and opportunities in all likely futures.

We begin with the hypothesis that shareholder-wealth effects of corporate transactions differdepending on (a) the specific industry, (b) whether they are horizontal or vertical, and (c) whetherthey are integrations (takeovers) or disintegrations (partial sell-offs). A standard event study...

The worldwide airline industry is currently facing one of the most severe crises in its history. Particularly affected are the networkcarriers, which need to develop more distinct products to adapt to the changed market environment. Since structure needs to fitstrategy, the question of how the...

The assessment of strategic opportunities and threats has been a key element of corporate ratings to assess companiesfor their current and in particular future creditworthiness since the enforcement of the new capital regulations for issuingloans in Europe (Basel II). The existing, often...